RTTNews | Oct 8, 2021 11:01AM EDT

11:00 Friday, October 8, 2021 (RTTNews.com) - Shares of Allogene Therapeutics, Inc. (ALLO) are tanking over 40% on Friday morning after the U.S. Food and Drug Administration put a clinical hold on the clinical-stage biotech company's cancer drug trial.

ALLO is currently trading at $14.10, down $10.28 or 42.16%, on the Nasdaq, on a volume of 11.9 million shares, above average volume of 700 thousand shares. The stock has traded between $13.70 and $44.92 in the 52-week period.

Allogene Therapeutics announced that that following a report of a chromosomal abnormality in ALLO-501A CAR T cells in a patient treated in the ALPHA2 study, the FDA has placed a hold on the Company's AlloCAR T clinical trials.

The company said it will provide additional updates in the coming weeks following consultation with the FDA. The FDA continues to actively review the end of Phase 1 materials submitted in anticipation for an ALLO-501A pivotal Phase 2 trial.

Read the original article on RTTNews ( https://www.rttnews.com/3231532/allogene-therapeutics-shares-tank-40-after-fda-puts-clinical-hold-on-cancer-drug-trial.aspx)

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